US average mortgage rates ease; 30-year at 4.83 percent

FILE- In this Oct 2, 2018, file photo a for sale sign stands outside a home on the market in the north Denver suburb of Thornton, Colo. On Thursday, Nov. 1, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/David Zalubowski, File)

WASHINGTON — Long-term U.S. mortgage rates declined this week, in a quiet pause after weeks of market anxiety over rising interest rates.

Home borrowing rates still remain at their highest levels in more than seven years, dampening the outlook for prospective homebuyers. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages eased to an average 4.83 percent this week from 4.86 percent last week. A year ago, it stood at 3.94 percent.

The average rate on 15-year, fixed-rate loans slipped to 4.23 percent this week from 4.29 percent last week.

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